Updates, advisories and surprises

(4:26 PM ET) SAN FRANCISCO (MarketWatch) -- Diamond Foods Inc.
DMND
late Wednesday reported its first-quarter net income fell to $14.2 million, or 64 cents a share, from $14.9 million, or 88 cents a share, in the same quarter last year. But revenue rose to $252.6 million from $180.6 million. Analysts surveyed by FactSet Research had forecast earnings of 60 cents a share on revenue of $239.8 million. The snack maker projected second-quarter adjusted earnings of 85 cents to 91 cents a share and raised its 2011 profit outlook to a range of $2.43 to $2.49 a share compared with $2.38 to $2.48 a share previously.

SAIC reports third-quarter profit of $172 million

(4:15 PM ET) SAN FRANCISCO (MarketWatch) -- SAIC Inc.
SAI, -15.38%
late Wednesday reported its third-quarter net income rose to $172 million, or 46 cents a share, from $135 million, or 34 cents a share, in the same quarter last year. Earnings from continuing operations were 41 cents a share. Revenue at the scientific, engineering and technology applications company increased 4% to $2.77 billion. Analysts surveyed by FactSet Research had expected earnings of 35 cents a share on revenue of $2.93 billion.

Dividend stalwarts fail to get boost from tax deal

(2:43 PM ET) SAN FRANCISCO (MarketWatch) -- Some of Wall Street's most steady dividend-paying stocks have failed to get a boost from a deal reached late Monday between Republican lawmakers and the Obama Administration to keep the dividend tax rate at 15%. The components of the S&P 500's Dividend Aristocrats Index, which includes companies within the S&P 500
SPX, -1.42%
that have increased dividends every year for at least the last 25 straight years, have on average lost 7 cents each, or 0.1%, since Monday's close, according to a MarketWatch calculation Wednesday. The S&P 500 has edged up 0.2% since then. Among the biggest laggards, 3M Co.
MMM, -2.39%
shares have lost 3.3% as investors gave a thumbs down to an earnings outlook. Among gainers, shares of Supervalu
SVU, -2.11%
often speculated as a buyout target, have jumped 4.7%.

(9:09 AM ET) NEW YORK (MarketWatch) -- Safeway Inc.
SWY, +3.57%
said Wednesday it increased its stock buyback program by $1 billion to $7 billion. The Pleasanton, Calif. food and drug retailer said the timing and volume of future stock repurchases will depend on market conditions.

Southwest Airlines November traffic increases

(8:49 AM ET) NEW YORK (MarketWatch) -- Southwest Airlines Co.
LUV, -0.49%
said Wednesday its flew 6.5 billion revenue passenger miles in November, an increase of 10.7% from the year-ago period. Available seat miles rose 5.7% to 8.1 billion. November's load factor rose to 80.1%, from 76.5%.

Spectra Energy sees 2011 earnings growth

(8:35 AM ET) NEW YORK (MarketWatch) -- Spectra Energy
SE, -3.84%
said Wednesday it expects adjusted 2011 earnings of about $1.65 a share. Wall Street analysts expect the Houston energy firm to earn $1.68 a share, according to a survey by FactSet Research. Spectra Energy will lift its quarterly dividend by 4% to 26 cents a share, starting in the first quarter of 2011. It'll invest $1.4 billion in expansion capital. Spectra Energy said it'll surpass its 2010 adjusted earnings target of $1.42 a share. Spectra expects oil prices of $85 a barrel in 2011.

Starwood sees earnings growing up to 42% a year

(6:24 AM ET) LONDON (MarketWatch) -- Starwood Hotels & Resorts Inc.
HOT, -0.55%
on Wednesday said it expects earnings per share to grow by between 35% and 42% a year for the next three years as the company takes advantage of robust growth in revenue per available room in emerging markets. Starwood said annual earnings before interest, taxes, depreciation and amortization is expected to grow between 14% and 18% and that excess cash flow will be between $1.7 billion and $2.2 billion. The company said its forecasts assume there will be a normal cyclical recovery, with worldwide revenue per available room growing by 7% to 9% a year. It also reaffirmed its earnings forecasts for 2010.

United Continental Nov. traffic and load factor up

(4:28 AM ET) TEL AVIV (MarketWatch) -- United Continental Holdings Inc.,
UAL, -1.06%
the Chicago parent of United Airlines and Continental Airlines, reported that for November, traffic rose 4.8% from the year-earlier month to 16.15 billion revenue passenger miles. A revenue passenger mile is one paying passenger carried one mile. Capacity increased 4.1% to 19.96 billion miles. So the load factor -- the percentage of seats filled with paying passengers -- moved up to 80.9% from 80.4%. Revenue per available seat mile climbed an estimated 11% to 12% in the month, United Continental said in a late Tuesday statement.

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